Hi Everyone this is Kris and this is my analysis for BTC . Its not perfect but Im open for criticism
UPDATE FROM:
BULLISH SIDE:
The attempt to break out on 42k was happilly rejected as the momentum is too strong and we are are overbought condition during the breakout attempt. so It was a weak attempt
What I am looking now is
1. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
2. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
if this will succeed in breaking the 42k target im looking for a 50-56k btc price target
BEARISH SIDE:
For now i Dont have a bearish side until I see the support lines broken
UPDATE FROM:
BULLISH SIDE:
The attempt to break out on 42k was happilly rejected as the momentum is too strong and we are are overbought condition during the breakout attempt. so It was a weak attempt
What I am looking now is
1. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
2. for it to retrace along side the 0.382 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again
if this will succeed in breaking the 42k target im looking for a 50-56k btc price target
BEARISH SIDE:
For now i Dont have a bearish side until I see the support lines broken
2. for it to retrace along side the 0.618 retracement retracement of the impulse from previous attempt and form a stepping stone from there testing the support at least 3 times and enter the warzone again